Altcoins Talks - Cryptocurrency Forum
Further Discussions => Legality & Taxation of Cryptos => Topic started by: Goodcat49 on November 28, 2018, 11:52:44 AM
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The 'Buckeye State' is ready to be the first State in the country to accept crypto, specifically Bitcoin (BTC), for payment of tax bills, according to The Wall Street Journal report on November 26. This comes after BTC and other major cryptos have depreciated value over the past week. On Monday, November 26, 2018, BTC was trading below $4,000, down over 80% since the December 2017 all-time-high of around $20,000.
Starting this week, Ohio commercial enterprises will be in a position to use cryptos such as Bitcoin to pay for anything ranging from cigarette sales to workers withholding taxes by registering on OhioCrypto.com. The State is considering to expand the establishment to individual filers.
Optimistic About Becoming National Leader in Blockchain
The idea originated from Ohio Treasurer Josh Mandel. He has been in the office since 2011.
“Treasurer Mandel believes in leveraging cutting-edge technology to provide Ohioans more options and ease while interfacing with state government,” the website revealed.
The State aims at becoming a national leader in Blockchain and is happy to be the first government in the entire world to accept cryptos as a method of payment. The website, however, didn't mention any other sorts of digital currency payments, like Ethereum, Ripple etc.
In 2014, Mandel rolled out OhioCheckbook.com, which put all State expenditure information on the internet and increased its ranking across the nation because of its transparency.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/ohio-ready-to-accept-bitcoin-for-tax-bills/
(https://coinidol.com/upload/resize_cache/iblock/a3a/900_900_1/a3aa3a93af0bd4e897b4bb5749aae9e0.png)